What intrigued me most about last week’s Bank of England’s “unchanged” interest rate decision was the press conference hosted by Governor Bailey shortly afterwards. The Bank’s committee shifted from a
The week of 6th-10th May 2024- FX focusses on the UK
Last week the Japanese authorities intervened in FX markets to strengthen the Yen. There was also some natural adjustment lower for USDJPY as US ISM data (both manufacturing and services)
The week of 29th April- 3rd May 2024- Yen jitters- huge week of data for the US
Last week the Fed’s preferred measure of inflation- PCE numbers- were released on Friday. They will not have pleased Fed Chair Powell- a champion dove- as the Headline number increased
The week of 22nd 26th April 2024- Will the ECB or BOE cut interest rates before the FED?
Last week, Canada, New Zealand, the UK, the Eurozone and Japan, all released inflation figures. The general trajectory was flat to moving lower (Canadian inflation ticked up to 2.9% Y.o.Y
The week of 15th-19th April 2024- inflation, inflation, everywhere. Well, reports at least!
Last week, New Zealand, Canada and the Eurozone kept interest rates on hold at 5.5%, 5% and 4.5% respectively, US Headline inflation jumped to 3.5% and gold hit record highs
The week of 8th-12th April 2024- US interest rate cuts in jeopardy
Last week, Swiss CPI dropped to an annual rate of 1%. Three US employment figures, ADP employment change for March, the little-known ISM Services employment (index) for March, and Non-Farm
The week of 1st-5th April 2024- US jobs data the pick of the week!
The script hasn’t really changed; the US economy is bobbing along nicely, stock markets are at or close to record highs, certain commodities are also at record highs (gold and
The week of 25th-29th March 2024- US PCE-perhaps the pivotal data release of the quarter!
Last week, the Japanese raised interest rates by a well-telegraphed and symbolic 0.1%, thus ending an era of negative interest rates. The market reaction was to sell yen.
The week of 18th-22nd March 2024- The week it is all meant to happen! But will it?
Let’s go back a few months and re-cap on what was being touted. If I remember correctly, I heard that the Fed is going to start an interest rate easing
The week of 11th-15th March 2024- A week to focus on the Japanese Yen
To most market-makers’ delight there was in fact a small amount of volatility last week; US ISM Services PMI (lower than expected), Fed Chair Powell testifying (benign) and Non-Farm Payrolls
What happened overnight – All of Wall Street’s main stock indexes hit record highs
Asian shares climbed following a day of record highs in Japanese, US and European markets fuelled by Nvidia’s mammoth results.
The week of 11th-15th December 2023- Follow the Leader
Last week was a fascinating week in the foreign exchange markets, not least for the Australian dollar and the Japanese Yen against the US dollar.